Bullboard - Stock Discussion Forum Canadian Imperial Bank of Commerce T.CM

Alternate Symbol(s): CM | T.CM.PR.Q | T.CM.PR.P | T.CM.PR.S

Canadian Imperial Bank of Commerce is a Canada-based financial institution. The Company has over 14 million personal banking, business, public sector and institutional clients in Canada, the United States and around the world. The Company has four strategic business units (SBUs): Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking... see more

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TSX:CM - Post Discussion

Canadian Imperial Bank of Commerce > Cerebrus Settled $770m USD

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Post by Dibah420 on Feb 18, 2023 11:45am

Cerebrus Settled $770m USD

CIBC recorded a pre-tax provision of CAD$1,169 million in its first quarter 2023 results to be released on February 24, 2023, representing damages and pre-judgment interest totaling US$855 million through January 31, 2023. The US$85 million difference between the amount recorded in the first quarter 2023 results and the settlement amount will be reflected in CIBC's second quarter results.
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Let's see the market response on the 24th.

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